I am behind in keeping up with my blog and with the release of the the November stats by the REALTORS® Association of Edmonton.
Yes, November was a busy month for MLS real estate listings and transaction in Edmonton, St. Albert and area.
There were 1894 residential listings, with 1261 residential sales. This compares the Nov/08 at 2036 residential listings and only 891 sales. A marked increase this year.
The average days on market for a home or condo was 48 days and the List to Sales ratio was 62.
Now, the average prices for a single family residence was $368,018, a slight up-tick from October. For condominiums it was $231,684, a drop of about $6000 from October.
Here is the price comparison chart for 2009, so far.
Condominiums will continue to be price volatile for awhile because of the increasing amount of new units being completed. This is going to probably push prices down even more. I’ve been talking to some apartment condo owners who bought in the last few years, and had to be honest and tell them that to sell now would mean a substantial loss compared to when they bought it.
Also, there are still quite a few buyers looking to purchase while the rates are low. This is one of the reasons why I have been busy for the first half of December. Although, now that the cold and snow are here it could make everyone think Ho Ho Ho, instead of Home, Home, Home.
I always welcome comments on this or any other blog posts. Your input is appreciated.
Drive safe and stay warm.
Ben Officer, CD REALTOR®
RE/MAX Real Estate
Email